Constellation Subsidiary Settles With FERC For $7M

Law360, New York (March 11, 2008, 12:00 AM EDT) -- A Constellation Energy Group Inc. subsidiary has agreed to pay almost $7 million to settle numerous self-reported violations of the Federal Energy Regulatory Commission's natural gas capacity release rules committed by the subsidiary from 2005 to mid-2007.

FERC unanimously approved a stipulation and consent decree, signed by both the commission and Constellation, on Monday. The order levied a $5 million civil penalty and ordered the subsidiary to disgorge roughly $1.9 million plus interest.

As part of the agreement, Louisville-based Constellation NewEnergy-Gas Division LLC (CNE-G), the wholly...
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